New Delhi: Power and telecom gear maker Sterlite Technology on Monday reported about four-fold jump in its standalone net profit at ₹ 39.13 crore for the fourth quarter ended 31 March.

The company had posted a net profit of ₹ 10.15 crore in the same period a year ago. Meanwhile, the company has decided to restructure itself into a pure-play telecom products and solutions company. The power business will be hived-off into a separate entity, the company said in a filing to the BSE.

“The standalone results includes both telecom and power. Our telecom business has been a major driver of growth. Almost 90% of profit is coming from telecom side. We are seeing correction in power business as well since 4-5 quarters," Sterlite Technologies CEO and director Anand Agarwal told PTI.

The company’s standalone income during the March quarter increased by 51.62% to ₹ 979.10 crore from ₹ 645.74 crore. For the full year ended 31 March, the standalone net profit increased by 67.8% to ₹ 84.24 crore from ₹ 50.2 crore it posted at the end of March 2014.

The revenue of the company on standalone basis increased by 11.14% to ₹ 3,030.10 crore from ₹ 2,726.34 crore during the period under review. However, on consolidated basis, the company reported narrowing of its loss to ₹ 2.64 crore for the financial year 2014-15 as against ₹ 35.51 crore in 2013-14.

Consolidated revenue increased to ₹ 3,097.06 crore from ₹ 2,563.85 during the period under review. The board of the company approved restructuring of Sterlite Technologies. The power product and transmission grid business will be hived-off into a separate company—Sterlite Power Transmission.

“We have created opportunities and scale on both sides. It is the right time to create two pure-play entities. Both are operating in very different business model. This process will take 9-10 months to complete. We hope to get all approvals by end of this fiscal," Agarwal said.

Shares of Sterlite Technologies closed at ₹ 66.00 a unit, up by 4.27% at the BSE.